After weeks of phone calls, letters and meetings between CUPW, Office of the Superintendent of Financial Institutions (OSFI) and Canada Post, OSFI has agreed to lift the restrictions on payments of commuted values from the Canada Post Pension Plan. They have imposed new restrictions which will allow members to withdraw the commuted value of their pension, but force Canada Post to pay a deposit of 40% of each withdrawal into the Canada Post Pension Plan.
For Immediate Release OTTAWA - The Canadian Union of Postal Workers notes that the cuts to door-to-door delivery announced today by Canada Post are unnecessary and will hurt people in the 11 affected communities. "This is a terrible plan and we will fight it every step of the way," said Denis Lemelin, National President of CUPW. "Canada Post executives and the Harper government are dismantling public postal service and refusing to listen to us when we point out there are better options for Canadians such as postal banking. Shame on them."
For Immediate Release OTTAWA -- Canada Post Corporation (CPC) conducted a secret four-year study on postal banking, which seems to indicate that getting into financial services would be “a win-win strategy” and a “proven money-maker” for the corporation. CPC's research study was stopped cold in the fall of 2013, just before the post office announced a five-point plan of massive cuts and steep rate hikes. Blacklock's Reporter obtained the internal report, including a management report entitled Banking: A Proven Diversification Strategy, through an Access to Information request. 701 of its 811 pages were redacted.
The Canada Post Pension Plan has been notified by the Office of the Superintendent of Financial Institutions (OSFI) that the administrator may not transfer moneys out of the pension plan or purchase immediate or deferred life annuities without the prior consent of OSFI. OSFI is the independent regulator who oversees pension plans to ensure compliance with the Pension benefits Standards Act (PBSA) and its regulations.
For Immediate Release OTTAWA - Thousands of postal workers and supporters rallied in Ottawa on Sunday to send a message to Canada Post and the Harper federal government about their plan to end door-to-door mail delivery and hike postage rates. “The Conservatives are wrong to think that people are going to accept these cuts,” Gayle Bossenberry of the Canadian Union of Postal Workers said in front of a cheering crowd at the Prime Minister’s office. “Stephen Harper, axe this plan and consult with the public!”
For Immediate Release MILTON, ONTARIO - Postal workers delivered over 12,200 postcards of protest to Lisa Raitt, Minister responsible for Canada Post, today at her constituency office in Milton, Ontario. The postcards were signed by Canadians opposing postal downsizing and closures prior to the corporation's recent announcement that it intends to cut delivery and raise rates.
OTTAWA – Canada Post’s decision to end door-to-door mail delivery and dramatically increase stamp prices is short-sighted and foolish. The Canadian Union of Postal Workers is extremely alarmed at this rash decision to gut public postal service for millions of Canadians. “If this happens, it would be the end of an era for Canada Post,” said Denis Lemelin, CUPW National President. “We recognize that Canada Post needs to change, but this is not the way!” CUPW has consistently advocated for innovation and service expansion to create a financially viable and service oriented postal service for the future.
Support Postal Banking - Download and Sign the Petition
Canada needs a postal bank. Thousands of rural towns and villages in our country do not have a bank, but many of them have a post office that could provide financial services. As well, nearly two million Canadians desperately need an alternative to payday lenders. A postal bank could be that alternative. Download and sign the petition urging the Government of Canada to instruct Canada Post to add postal banking, with a mandate for financial inclusion.